According to the National Association of Home Builders (NAHB), the average price per square foot of a U.S. home in 2008 was $88.31, although the numbers do vary depending on the region of the country where the home is located.
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In the Northeast region of the United States, NAHB estimated the average home price per square foot of floor area was $117.91. In contrast, in 1992, the same square footage came in at $66.46.
During 2008 in the Midwest, buyers could expect to spend, on average, $87.99 per square foot of living space in a single family home. In 1992, the cost was $59.65 per square foot.
Single-family homes in Southern states, like Alabama, Mississippi and Georgia, boasted the lowest average square foot price in 2008, coming in at $79.64 per square foot. In 1992, that price was $48.49.
Homes in the Western region of the United States, such as California, Washington and Nevada, averaged $111.72 per square foot in 2008, up from $61.64 in 1992.
Looking at the United States as a whole, the average cost per square footage for a single family home in 2008 was $88.31, and in 1992, the numbers came in at $55.18.